Update: Producers of Woodstock 50, Woodstock Ventures—founded by Michael Lang, Joel Rosenman and the late John Roberts (who, along with Artie Kornfeld, produced the 1969 festival)—deny the cancelation. Lang told the NY Times that the investors "do not have the right to unilaterally cancel the festival." The group also told the Poughkeepsie Journal that "Woodstock 50 vehemently denies the festival’s cancelation," noting they would seek a “legal remedy." Presumably they are looking for new investors.

Original story

Following an announcement last month that the Woodstock 50 lineup would feature an insane amount of acts (Jay-Z, Chance The Rapper, The Black Keys, Imagine Dragons, The Lumineers, Pussy Riot, Miley Cyrus, Janelle Monae, Kacey Musgraves, the Killers, Dead & Co., Robert Plant, Santana, and so on)… it has now been canceled. The 50th anniversary of the historic 1969 festival was going to be an ambitious undertaking, and it turns out no one was quite up for that. Perhaps there were simply too many Fyre Fest docs out there fueling the fear.

According to Billboard, organizers said, "We don’t believe the production of the festival can be executed as an event worthy of the Woodstock Brand name," adding:

"It’s a dream for agencies to work with iconic brands and to be associated with meaningful movements. We have a strong history of producing experiences that bring people together around common interests and causes which is why we chose to be a part of the Woodstock 50th Anniversary Festival. But despite our tremendous investment of time, effort and commitment, we don’t believe the production of the festival can be executed as an event worthy of the Woodstock Brand name while also ensuring the health and safety of the artists, partners and attendees.

As a result and after careful consideration, Dentsu Aegis Network’s Amplifi Live, a partner of Woodstock 50, has decided to cancel the festival. As difficult as it is, we believe this is the most prudent decision for all parties involved."

Billboard also reports that they had allegedly already spent over $30 million "and most artists have already been paid."

There was precious little time to get such a large event together, as it was scheduled to go down the weekend of August 16th, and when tickets didn't go on sale as scheduled last week it was reported that organizers failed to acquire a mass gathering permit from the New York State Department of Health to host the event at Watkins Glen International speedway. (As of now the website is still live.)

Last August, a Phish festival planned for the same site was canceled a day before it was scheduled to begin, after the state Department of Health refused to issue necessary permits for water at Watkins Glen, due to flooding that contaminating the town's water supply.

As of now, the other Woodstock event, which is not an official Woodstock event but is being held at the original site, will still go on.